GREENPRO CAPITAL CORP. (OTCMKTS:GRNQ) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry Into A Material Definitive Agreement
Acquisition of Gushen Credit Limited
On April 27, 2017, Greenpro Resources Limited, the wholly owned
subsidiary of Greenpro Capital Corp (GRNQ) and Gushen Holding
Limited, a Seychelles corporation (GSHL), entered into an Asset
Purchase Agreement (the Agreement), to which GRNQ purchased the
assets in Gushen Credit Limited (GCL), the wholly owned
subsidiary of GSHL. As consideration thereof, GRNQ agreed to pay
for the purchase price of $105,000. The purchase price was
determined based upon fair value of the Purchased Assets, as
defined in the Agreement, including Deposit in connection to
Tenancy agreement, Electricity Bills, Water Bills and Telephone
Bills, but excluding all cash and cash equivalent of GCL. The
purchase price was offset by the amount owned to GRNQ and GRNQ
did not have to pay any shortfall in the purchase price.
GSHL owns and operates a money lending business in Hong Kong via
its subsidiary, GCL, located at 1701-03, 17/F, Metropolis Tower,
10 Metropolis Drive, Hung Hom, Kowloon, Hong Kong. On April 28,
2017, GSHL sold Two (2) ordinary shares of GCL to GRNQ,
representing 100% of ownership, for a total consideration of
$0.26 in cash. The purchase price is determined based on the
mutual agreement between GSHL and GRNQ. Upon the closing, GRNQ
takes over the business premises of GCL and also the Money Lender
License of GCL.
The foregoing description of the Agreement is a summary only and
is qualified in its entirety by the copy of the Agreement filed
as Exhibit 2.1 to this Current Report on Form 8-K and
incorporated herein by reference.
| Item 9.01 | Financial Statements And Exhibits |
| (a) |
Financial Statements of Business Acquired. |
Not applicable
| (b) | Pro Forma Financial Information. |
Not applicable
| (d) |
Exhibits. |
| Exhibit No. |
Description |
||
| 2.1 |
Asset Purchase Agreement, dated as of April 27, 2017, between Greenpro Resources Limited and Gushen Holding Limited |
About GREENPRO CAPITAL CORP. (OTCMKTS:GRNQ)
Greenpro Capital Corp. provides cloud system resolution, financial consulting services and corporate accounting services. The Company operates and provides a range of business solution services to small and medium-size businesses located in Asia, with an initial focus on Hong Kong, China and Malaysia. Its segments include Service business, Real estate business and Corporate. The Service business segment is engaged in the provision of business solution services. The Real estate business segment is engaged in leasing and trading of commercial real estate properties in Hong Kong and Malaysia. Its range of services includes cross-border business solutions, record management services, and accounting outsourcing services. Its cross border business services include tax planning, trust and wealth management, cross border listing advisory services and transaction services. It provides assistance to set up bank accounts with banks in Hong Kong to facilitate clients’ banking operations. GREENPRO CAPITAL CORP. (OTCMKTS:GRNQ) Recent Trading Information
GREENPRO CAPITAL CORP. (OTCMKTS:GRNQ) closed its last trading session 00.00 at 5.70 with shares trading hands.